Our Company Secretarial Services

New legislative changes were introduced in August 2016 which made proper compliance with Company Secretarial obligations even more important. We have summarised below a few of the more important changes that were introduced:

• The Annual Return has been replaced by a Confirmation Statement.
• The time to file a Confirmation Statement has been reduced from 28 to only 14 days and not making the return makes the directors liable to prosecution and the company potentially being struck off and/or credit rating being affected.
• The Confirmation Statement introduces the requirement for a Register Of Persons With Significant Control (PSC). The PSC is intended to identify the people who have beneficial control of the company. Failure to properly complete the PSC carries a criminal penalty of an unlimited fine and/or up to two years in prison.

As you can see, failure to comply with the Company Secretarial responsibilities is treated very seriously and will lead to financial penalties, prosecution, disqualification of directors and the company being struck off the register. In the case of compulsory strike off, costs will be incurred to reinstate the company. It is therefore incredibly important that directors comply with their obligations.

The French Duncan Company Secretarial team can help remove these challenges by offering professional support. This gives busy directors the opportunity to focus on running their business.

Services are tailored to meet your requirements. We offer a fixed fee annual compliance service for extra peace-of-mind.

For further information on our Company Secretarial Services, please email Ann Gracie on a.gracie@frenchduncan.co.uk or call 0141 221 2984.